Form 4: Central Pacific Financial Corp Director Acquires Shares as Part of Board Compensation

Director Robert Nobriga acquired 2,937 shares of Central Pacific Financial Corp (CPF) stock on May 14, 2024, as part of his board compensation.

Summary

• On May 14, 2024, Robert Nobriga, a director of Central Pacific Financial Corp (CPF), acquired 2,937 shares of common stock at a price of $21.28 per share.
• This acquisition was part of the 2024 Board of Directors fees, covering the period from May 1, 2024, to April 30, 2025, and was approved by the Board Compensation Committee in July 2023.
• Following the transaction, Nobriga directly owns 4,013 shares of CPF.
• The filing also includes a power of attorney document, effective December 27, 2023, granting Stacey L. Rocha the authority to file SEC forms on Nobriga's behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's stock acquisition as part of compensation indicates confidence in the company, but it's a routine transaction.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future performance.
• The board compensation structure aligns director interests with shareholder value.

Industry Context

Director share acquisitions are common in the financial industry as part of compensation packages and can reflect management's confidence in the company's prospects. These transactions are closely monitored by investors for insights into company performance and governance.

Comparison to Industry Standards

• Director compensation in the form of stock is a common practice among publicly traded financial institutions.
• Companies like Bank of Hawaii (BOH) and First Hawaiian, Inc. (FHB) also utilize stock-based compensation for their directors.
• The amount of stock awarded to directors varies based on company size, performance, and board compensation policies.

Stakeholder Impact

• The director's stock acquisition can positively influence shareholder sentiment.
• The compensation structure aligns director interests with shareholder value.

Key Dates